Smart money against hitting EU target

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An EU report has estimated member states are currently on track to roll out electricity smart meters to 72% of households.

The report, by the bloc’s Joint Research Committee (JRC) and directorate general for energy, concludes that, despite a total €45 billion ($60.3 billion) commitment by its 28 member states to roll out almost 200 million electricity meters and 45 million gas meters, it will still fall short of the EU aim of having smart meters in 80% of households by 2020.

The EU is targeting demand side management of energy across the continent with smart meters, which display how much energy is being consumed by households in real time.

According to EU figures, smart meters typically cost between €200 and €250 each but offer €309 of benefits for every metering point as well as energy savings of 3%.